Issue details

Investment in Unit 23 Rochdale Riverside

To seek approval for additional to costs needed to secure an occupier for Unit 23 in the Rochdale Riverside retail and leisure scheme to be secured utilising funds from the Property Growth Fund.

Decision type: Key

Reason Key: Expenditure > £500,000;

Decision status: Recommendations Approved

Wards affected: Milkstone and Deeplish;

Notice of proposed decision first published: 22/07/2019

This decision will be taken under urgency procedures.

Reason for urgency:
The item relates to the Rochdale Riverside Development and the reason it has only just come forward now is that negotiations with a potential new leisure operator for the Rochdale Riverside scheme have been on-going for a number of months. The final issue to be resolved is the cost of the capital works. These costs were recently confirmed and it is hoped to complete the lease as soon as possible. Given the late notification of the costs, there was insufficient time to give the required 28 day notice. A delay obtaining Property Growth Fund Sub-Committee approval would delay completion of the lease for this major new occupier.

The Chair of the Health Schools and Care Overview and Scrutiny Committee considered the above (in the absence of the Chair of the Communities, Regeneration and Environment Overview and Scrutiny Committee) and concluded that the criteria for urgency has been satisfied in this instance.

Anticipated restriction: Fully exempt  - View reasons

Decision due: Not before 30th Jul 2019 by Property Growth Fund Sub-Committee

Lead member: Cabinet Member for Regeneration, Business, Skills & Employment

Lead director: Director of Economy

Contact: Gary Davies Email: g.davies@investinrochdale.co.uk Tel: 01706 927034.

Agenda items

Documents

  • Investment in Unit 23 Rochdale Riverside